Live blogging PartnerCon 2011: Jim Collins CEO of Pictage Opening Keynote

November 7th, 2011

By: Wendy Roe

Jim Collins Keynote PartnerCon 2011We’re excited to be at the opening day of Pictage’s PartnerCon 2011 here in San Diego.  My goal is to live blog the speaking sessions that I’m attending in order to allow folks that can’t be here to gain some knowledge and get a sense for how awesome the conference is 🙂  Follow along on Twitter with the hashtag: #partnercon.

Please forgive any typos and take what information is helpful and throw away what isn’t.  Thanks so much and feel free to comment with any questions you may have.  I’ll do my best to type as fast as possible 🙂

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Opening slideshow of Pictage photographer’s work….AWESOME!

Who moved my cheese…the industry is changing.  He opens with a fun presentation on the change of ‘square shooters’ vs ‘digital shooters’

Type of product or ideas:  Every product or idea goes through a cycle that makes it a:

1) Stars
2) Cash Cow
3) Dog

Does your website answer the question:
1) Website Image Hero Gallery –  10 images
2) 1st answer to their question (Am I going to look beautiful on my wedding day?)
3) 2nd answer to their question (Groom having a blast or some validation to the fact that the groom will like you)
4) 3rd answer to their question (Parent/Emotion moment…that you’re able to capture the most important moments of the day)

Jim asks: “What do I do to be new?”

New Product Considerations

1) Digital Fulfillment: Lowers cost, lowers profits, simplifies sales….there’s NO right answer.  You have to accept whichever path you choose.

Other Product Considerations
1) Creative Photo Products are growing fast…things like acrylic, metallic, metal, bamboo…the products they CAN’T get at Costco or Walmart.
2) New lines of business: Bridal to Boudoir, Families to seniors and babies.
3) Does unique products fit your business clientele?

Going into a New Market?
1) How are you planning on reaching out to the new market?  “If you build it they will come…was a lie.”
2) Are their enough people in the market to allow you to make a living?

One Important Rule of Thumb:  “RISK is a necessary element to success.  Success makes you complacent.”

1) Case in point: “Is your product and price list the same as it was in January of this year?”
2) Nothing that exists today MUST exist tomorrow.  You don’t have to change everything every year but pick ONE big thing a year to try.

The #1 piece of feedback that was received at last year’s PartnerCon was that they didn’t talk about Pictage (as a company) enough.  Jim’s diving into Pictage and their new product gallery line.  Also the possibility of an acrylic line of albums (not paper) to prevent warping of albums.  Better, cheaper, faster albums.  Introducing a new line “Aspen” of panoramic albums (even metallic!!  yeah!).  They are also adding matted albums…

They are also evaluating the proofing product line…

Free Print Promo
After hearing “nobody wants prints” anymore…that was proved wrong by the free print promo 🙂  Jim submits that it was a success and failure.  They admit for not creating clear guidelines.  Lots of laughs, jokes…etc.  1.8 million orders.  10% of the orders took up 90% of the volume.  There were orders for charitable events to United Way and others that were printed and shipped gladly.  Jim mentions that they have novel ways if photographers want to serve charities…talk with them.  They love helping and it gives them a sense of purpose…

Use of DOT has quadrupled, the use of the forums has doubled because of the promo.  Was it good or bad press?  It was both, he says.

 “Over reaction in adversity is the quick ticket to obscurity.”  – Jim Collins 2011

Other Additions:
Eliminated ‘per print’ pricing in album pricing, which yielded a 200% increase in revenue in the first month.
Change to canvas pricing, yielded a 700% increase in revenue
120% is the Goal, using our collective power to negotiate  pricing that gives you an advantage over your competition.  You can mark up 120% and be able to sell them to clients across the country; 100% for the markup and 20% for the commission.

Objective:
1) To establish Pictage as a leasing provider of products and services required by professional photography studios.
2) To continually understand the requirements of success, expanding the product mix in expected and unexpected ways.

Jim’s reviewing the overall goals and objectives (to awesome and numerous to count or type).  Ask him directly…or hopefully he’s post these in a forum thread!